AFH buys Hertfordshire-based IFA for up to £1.6m

Second acquisition in two days

Julian Marr
clock • 2 min read

AFH has completed the sixth advice firm acquisition of its financial year - and its second in two days - after buying Hertfordshire-based Mark Hughes & Associates for up to £1.6m.

Managing director Mark Hughes will join AFH as an adviser along with his team following the acquisition. Under the terms of the deal, the purchase price is expected to be between £1.2m and £1.6m - based on the ongoing profitability of the business subject to the fulfilment of certain financial targets. The firm has some 300 clients across London and the Home Counties and, according to AFH, the acquisition is expected to contribute an aggregate of approximately £600,000 a year of revenue to the company while adding more than £50m to its funds under management. It added: "The initial co...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

Titan Wealth eyes Norwich-based IFA Finance Shop

Titan Wealth eyes Norwich-based IFA Finance Shop

Looking to snap up and merge firm as part of its ‘project Canaries’

Isabel Baxter
clock 31 January 2025 • 2 min read
Acquisition analysis: The top five biggest M&A deals in 2024 by AUM

Acquisition analysis: The top five biggest M&A deals in 2024 by AUM

Nucleus’ buy of Third Financial tops the table

Isabel Baxter
clock 30 January 2025 • 4 min read
St James's Place 'on track' with charging structure overhaul

St James's Place 'on track' with charging structure overhaul

Delivery by second half of 2025

Isabel Baxter
clock 30 January 2025 • 2 min read